Australian heavy rare earths producer, Northern Minerals (ASX: NTU) has completed the first heavy rare earth carbonate shipment from the Browns Range Pilot Plant Project in the East Kimberley region of Western Australia, to customers in China. The first shipment of 2,578kg constitutes RE carbonate produced during the commissioning phase of the project, as the various components of the circuit are tested and operated. The shipment sizes will be significantly larger as commissioning is completed and the plant moves to steady state production. Northern Minerals’ Managing Director and CEO, George Bauk said: “Our first shipment of high quality heavy rare earth carbonate from Browns Range demonstrates that we have got the circuit right for the production from xenotime ore. “As commissioning progresses towards steady state levels, we continue to attract international interest in the project and product.”
Highlights
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First rare earth carbonate shipment has left site;
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First heavy rare earth carbonate has been loaded on ship and is expected to sail in the coming days;
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Product meets high-quality specifications.
Australian heavy rare earths producer, Northern Minerals (ASX: NTU) (Company) is pleased to announce that commissioning of its Browns Range R&D Pilot Plant Project in the East Kimberley region of Western Australia (R&D Pilot Plant Project) is continuing and progressing in accordance with expectations.
Under the terms of the EPC construction contract (EPC Contract) between the Company and Sinosteel MCC, Practical Completion has been determined to have been achieved in respect of the construction phase of the R&D Pilot Plant Project as of 24 October 2018.
Under the EPC Contract, payment of $10.2m (ex GST), is deferred (Deferred Cost).
The Deferred Cost is payable by the Company in 5 quarterly instalments commencing on the date 12 months after Practical Completion.
Commissioning activities will continue, and product is being stockpiled ahead of a first shipment expected by the end of the month.
Northern Minerals’ Managing Director and CEO, George Bauk, said “We continue to kick goals at Browns Range and Practical Completion is another major milestone that we have ticked off.
“Commissioning is progressing well, and we are aiming for shipment of our first product from the Pilot Plant before the end of the year.”
“We want to take this opportunity to recognise the excellent work undertaken by Sinosteel MECC on the construction and delivery of the Browns Range R&D Pilot Plant.”
Investors are encouraged to update their contact details to stay up to date with Northern Minerals news and research at: http://northernminerals.com.au/update-details/
